228 S Edith St

Pryor Creek, OK 74361

$138,500F

2 bd · 1.0 ba · 977 sqft · Built 1940 · SingleFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,081/mo
• Mortgage (P&I): −$726
• Tax + insurance: −$90
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $38/mo
• Annual: $451/yr
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• 1% rule: 0.78%
• Cash to close: $38,780

Investor read

• This is a 2-bed/1.0-bath single-family listed at $138k.
• At list price, monthly cash flow is $38 ($451/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (21.9% below list).
• It's been on market 41 days — a 3% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (21.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $958 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#51 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
• Pryor (town): math 24% / reading 21% proficiency, ranked #143 of 270 in OK (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lincoln Es (math 19% / reading 12%, grade F, #588 of 845 statewide, top 70%, 606 students, 0% FRL); Pryor Ms (math 19% / reading 21%, grade F, #158 of 345 statewide, top 47%, 650 students, 0% FRL); Pryor Hs (math 27% / reading 32%, grade F, #96 of 447 statewide, top 26%, 800 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 164 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 23 units permitted in Mayes County in 2024 (0 in 5+ unit buildings).
• Mayes County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $45k; list at $138k implies a 208% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.6% vs local median 3.9% in Pryor Creek — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.